CONSOL Energy Inc. IPAAs Oil & Gas Investment Symposium, San Francisco
CONSOL Energy Inc Corporate Profile The leading diversified fuel producer in the Eastern United States Headquartered in Pittsburgh, Pennsylvania Founded in 1860 Approximately 8,600 Employees Current Market Capitalization of…
CONSOL Energy - Overview CONSOL Energy Inc. Coal Natural Gas Over 4.4 billion tons of proven and probable Over 3.7 Tcfe of proved reserves coal reserves Approx. 750,000 acres the Marcellus Shale 2011 estimated coal exports of…
Coal Divisions Growth Strategy Growing Production Amonate - 400,000 tons in 2012 ramping to 800,000 per year in 2015 BMX - 5 million tons annually beginning in 2014 Growing Exports 2010 Exports of 6.8 million tons 2011 Exports…
Expanding our Exports to 10-10.5 million tons in 2011 2010 Coal Exports by Geography (million tons) 6.8 Million Tons Europe 2.2 32% Asia 3.0 44% S. America 1.6 24% 8
CONSOLs Industry-Leading Coal Margins Low-Vol High-Vol Quarter Ended June 30, 2011 Met Met Thermal Total Coal Sales (millions of tons) 1.4 1.5 13.5 Average Realized Price Per Ton Company Produced 207.05 81.75 59.24 Total…
Notable Achievements in Shale Formations Second to produce from a horizontal well in the Marcellus Shale (October 2008). First to announce a discovery in the Utica Shale (October 2010). First to use rotary steering tools in the…
. First to drill a 10-Well Pad in the Marcellus Shale 11
Gas Divisions Growth Strategy CONSOL Announces JVs/Sales Worth 4.2 billion Partnering with Noble Energy in the Marcellus Shale, for 3.4 billion Partnering with Hess Corporation in the Utica Shale in Ohio, for 0.6 billion Sold…
CONSOL Energy & Noble Energy JV CNX to sell an interest in Marcellus Shale asset to Noble Energy Total deal valuation of 3.4 billion CNX selling 50% interest in Marcellus Shale position (663,350 acres in PA & WV) for 3.20 billion…
CONSOL Energy & Noble Energy JV Transaction Rationale Marks to market entire Marcellus position at 9,650 / acre Validates legacy CNX Gas and Dominion asset base Partners with a highly respected, world class E&P partner Shared…
CONSOL Energy & Noble Energy JV Marcellus Shale JV Acreage CNX/NBL Operating Areas CONSOL Dry Gas Areas 570K acres 3,700 horizontal locations Noble Energy Wet Gas Areas 95K acres 630 horizontal locations High net revenue…
CONSOL Energy & Noble Energy JV Development Plan Rig schedule ramps up to 16 by 2015 Rig Schedule 20 16 16 15 Accelerated development of acreage 12 12 8 8 4 4 Substantial cash generation throughout plan - 2011 2012…
Barnesville 1 Statistics Encountered the Utica Shale at a depth of 8,450 feet Utica Shale was 200 feet thick Well was unstimulated, but open flowed at 1.5 MMcf over a 24-hour period 18
Our Investment Thesis Aggregate proceeds from Marcellus Shale JV: 3.4 billion Aggregate proceeds from Utica Shale JV: 0.6 billion 4.2 billion Cash from sale of ORRI to Antero: 0.2 billion Gross-up on a 100%-basis: 8.0 billion…
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